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Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market
The Business Research Company's Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Global Market Report 2023 identifies the surge in the use of smartphones as the major driver for the location-based services (LBS) and real-time location systems (RTLS) market's growth in the forecast period. A smartphone refers to a portable electronic gadget with a cellular network connection. Location-based services and real-time location systems use the internet, geospatial technologies, and communication technologies to deliver information to individual smartphones in real-time, based on their geographic location, and assist in driving this market.
The global location-based services (LBS) and real-time location systems (RTLS) market is expected to grow from $21.97 billion in 2022 to $27.28 billion in 2023 at a compound annual growth rate (CAGR) of 24.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The location-based services (LBS) and real-time location systems (RTLS) market is expected to grow to $64.48 billion in 2027 at a CAGR of 24%.
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Major competitors in the location-based services (LBS) and real-time location systems (RTLS) market are NTT Docomo Inc., Google LLC, Oracle Corporation, Quuppa, Airista Flow Inc., TomTom N.V, Qualcomm Incorporated, Zebra Technologies Corporation, Navigine, Stanley Black & Decker Inc., Apple Inc., Teldio Avigilon Solutions, International Business Machines Corporation, Ubisense Technologies, Cisco Systems Inc.
A key trend in the location-based services (LBS) and real-time location systems (RTLS) market includes technological advancement. Major companies operating in the location-based services and real-time location systems market are focused on developing new technological solutions to strengthen their position. For instance, in February 2020, Cisco, a US-based networking company, launched the Multiscreen-as-a-Service (MaaS) Location Based Services (LBS) app, which enables features such as indoor routing and navigation, location sharing, customizable points of interest, simple real-time map management, additional real-time location services, native map experience, and landmark routing by delivering navigation and wayfinding functionality across any campus or facility around the world while simplifying and streamlining the underlying infrastructure.
Read More On The Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Report Here:
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The location-based services (LBS) and real-time location systems (RTLS) market is segmented -
• By Component: Hardware, Software, Services
• By Location Type: Indoor, Outdoor
• By Application: Tracking And Navigation, Marketing And Advertisement, Location-Based Social Networks, Location-Based Health Monitoring, Other Applications
• By End User: Manufacturing, Healthcare And Life Sciences, Media And Entertainment, Government, Retail, Transportation
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the location-based services (LBS) and real-time location systems (RTLS) market.
The Business Research Company's "Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Include:
1. Executive Summary
2. Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Characteristics
3. Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Trends And Strategies
4. Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market - Macro Economic Scenario
5. Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Size And Growth
……
26. Africa Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market
27. Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market
29. Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Future Outlook and Potential Analysis
30. Appendix
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